Mode of Transport: Sea or inland waterway transport only
Applicable for Domestic Trade: Yes
Applicable for String Sales: Yes
Applicable for Goods Moving in Containers: No
Delivery Condition: The seller delivers the goods on board of the vessel, nominated by the buyer at the named port of shipment or procures the goods already so delivered.
Point of Risk Transfer: The board of the vessel
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Point of Cost Transfer: The board of the vessel
Rules for Quote (Quotation): [currency] [price] FOB [named port of shipment] Incoterms® 2020
Example of Quote (Quotation): $150,000 FOB, Quai #2, Amsterdam Port, Middensluisweg 2, 1975, Amsterdam, Netherlands, Incoterms® 2020
Packaging: Seller’s responsibility and cost
Export Clearance & Security: Seller’s responsibility and cost
Inspection: Seller’s responsibility and cost, only if the inspection is mandated by local authorities
Loading: Seller’s responsibility and cost
Carriage: Buyer’s responsibility and cost
Insurance: No obligation to arrange but Buyer’s cost and responsibility if requested
Import Clearance & Security: Buyer’s responsibility and cost
Unloading: Buyer’s responsibility and cost
Notification: The Seller timely notifies the Buyer that goods have been delivered or that the vessel failed to take goods. The Buyer timely notifies the Seller the vessel’s name, time and loading point.
Documentation: The Seller must provide the Buyer with the proof of delivery. The Buyer must accept the proof of delivery.
